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Iconic Finds Strong Correlation Between Drill Holes at Bonnie Claire Lithium Project
Vancouver, British Columbia--(Newsfile Corp. - December 7, 2022) - Iconic Minerals Ltd.  (...
About this update from Iconic Minerals Ltd
[{"type":"text","content":"Iconic Finds Strong Correlation Between Drill Holes at Bonnie Claire Lithium ProjectVancouver, British Columbia--(Newsfile Corp. - December 7, 2022) - Iconic Minerals Ltd. (TSXV: ICM) (OTCQB: BVTEF) (FSE: YQGB) (the \"Company\" or \"Iconic\") and its 50% partner in the Bonnie Claire Lithium Project (the 'Project' or 'Property') Nevada Lithium Resources Inc. (CSE: NVLH) (OTCQB: NVLHF) (FSE: 87K) (\"Nevada Lithium\"), are pleased to provide an update on the 2022 drill program for the Bonnie Claire Lithium Project (the 'Project' or 'Property'), located in Nye County, Nevada. Lab tests results confirm that the rock types and assay values between core hole BC2201C and core hole BC2203C correlate well. These correlating rock types are identified as an upper mudstone unit underlain by sandstone, which is underlain by additional mudstone.Iconic Minerals Ltd CEO, Richard Kern, comments: \"The key to moving from resource to reserve is to show continuity between our widely spaced drill holes. These two holes are a good start in this process.\"The assays for hole BC2203C, which is located roughly one-half mile from BC2201C, have been certified by ALS Laboratories. The assay lengths from BC2203C average 19.6 feet (6 meters), which is roughly three times longer than the 6.9 foot (2 meter) average length of assays taken from the first hole, resulting in a smoother assay value curve. For example, the highest lithium assay in BC2203C was 4,740ppm Li where BC2201C had a high of 5,570 ppm. The assay values of the two holes are shown graphed below. To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4609/147165_iconic_fig1.pngTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4609/147165_iconic_fig3.png Assay values correlate well between the two holes, despite the gaps in results and variable sample lengths from BC2201C. The chart below shows weighted average lithium values for the two drill holes.Drill HoleEntire Hole Average Li ppm80 - 380 feet (24-16 meters) Average Li ppm1040 - 2000 feet (317 - 610 meters) Average Li ppmBC 2201C123110562061BC 2203C131510292213All Averages are Weighted AveragesBC2203C has a \"Shallow Zone\" between roughly 80 and 380 feet (24 and 116 meters) from the surface which has assays averaging 97% of the previous...